1. What is an emergency savings fund? An emergency savings fund is a dedicated amount of money set aside for unexpected expenses or financial emergencies, such as medical bills, car repairs, or job loss. It acts as a financial cushion to help you cover costs without going into debt. 2. How much should I have […]

1. Do freelancers have to pay taxes? Yes, freelancers must pay taxes. Since they are classified as independent contractors, they are liable for both income taxes and self-employment tax (towards Social Security and Medicare). 2. What is self-employment tax? Self-employment tax is that tax paid by individuals who work for themselves. It consists of:

1. What is real estate crowdfunding? Real estate crowdfunding is the process of raising capital for real estate projects by pooling small investments from a large number of investors. With the help of crowdfunding platforms, one can invest in residential or commercial properties without buying or managing them. 2. How does real estate crowdfunding

1. What are the major financial expenses for having a baby? Major expenditures include: Medical costs: Hospital stay, antenatal care, delivery, and subsequent pediatric visit. Baby equipment: Cribs, car seats, strollers, diapers, garments, etc. Continuing childcare: Daycare, nannies, or sitters. Income lost: Paternity/ maternity leave, if available

1. What is a financial advisor? A financial advisor is a professional who advises in managing your finances, including investments, retirement planning, tax strategies, and estate planning. 2. What are the different types of financial advisors? Certified Financial Planner (CFP): Offers comprehensive financial planning services. Registered Investmen

1. What is an index fund? An index fund is a type of mutual fund or exchange-traded fund (ETF) designed to replicate the performance of a specific market index, such as the S&P 500, by holding the same securities in the same proportions as the index. 2. How does an index fund work? Index funds […]